China’s CRBC Keen to Build Montenegrin Highway’s Next Stretch

Montenegrin Government and CRBC officials at the Bar Boljare highway first phase opening ceremony. Photo: Government of Montenegro

According to a government report published on Wednesday outgoing Finance Minister Aleksandar Damjanovic and CRBC official Hei Shiquiang met on July 3 about potential cooperation on the construction of the second and third phases of the highway.

"The Chinese company recommended that two sections could be built through a private-public partnership model. CRBC has conducted detailed studies, prepared a commercial study, framework conditions, a draft of general conditions, as well as a technical proposal for the next two sections of the highway," the government report said.

"Funding models through private-public partnerships or otherwise must be carefully considered, taking into account the fact that Montenegro is discussing with different partners, striving to define the most favourable way," it added.

The Bar-Boljare highway represents the Montenegrin leg of a larger highway that will run from the Adriatic coast to the Serbian capital, Belgrade.

The first 41-kilometer-long phase, which opened last July, was built by CRBC with 85 per cent of the money coming from a $810-million-loan from China's Exim Bank.

The first phase was due to finish by November 2019. but completion was delayed three times due to technical issues and the COVID-19 pandemic.

On July 20, 2022, the Ministry for Capital Investments said the 23.5-kilometers-long second phase, running from Matesevo to Andrijevica, would likely cost some 552 million euros, adding that it was negotiating with European banks for financing.

But on Wednesday the Ministry's secretary, Admir Sahmanovic, said those negotiations were now on hold due...